LAKE SUCCESS, N.Y., March 3, 2015 /CNW/ -- The following statement is being issued by GCG regarding the proposed RMBS Settlement.

Dated: January 30, 2015

NOTICE REGARDING COMMENCEMENT OF A JUDICIAL INSTRUCTION PROCEEDING IN CONNECTION WITH THE ACCEPTANCE OF THE SETTLEMENT AGREEMENT DATED AS OF APRIL 7, 2014, AS MODIFIED (THE "SETTLEMENT AGREEMENT"), FROM CITIGROUP INC. AND ITS DIRECT AND INDIRECT SUBSIDIARIES ("CITIGROUP").

NOTICE IS HEREBY GIVEN BY:

Deutsche Bank National Trust CompanyHSBC Bank USA, National AssociationLaw Debenture Trust Company of New YorkU.S. Bank National Association

EACH, IN ITS CAPACITY AS TRUSTEE, INDENTURE TRUSTEE, SEPARATE TRUSTEE, AND/OR SUCCESSOR TRUSTEE OF THE ACCEPTING TRUSTS AND LOAN GROUPS (DEFINED BELOW) (COLLECTIVELY, THE "RMBS TRUSTEES" AND EACH AN "RMBS TRUSTEE"), TO THE HOLDERS OF CERTIFICATES, NOTES OR OTHER SECURITIES (THE "CERTIFICATEHOLDERS") OF THE RESIDENTIAL MORTGAGE-BACKED SECURITIZATION TRUSTS AND LOAN GROUPS IDENTIFIED IN EXHIBIT A HERETO (THE "ACCEPTING TRUSTS AND LOAN GROUPS," WHICH ARE FURTHER IDENTIFIED BY CUSIP NUMBERS ON THE RMBS TRUSTEES' WEBSITE)1 AND OTHER PERSONS POTENTIALLY INTERESTED IN THE ACCEPTING TRUSTS AND LOAN GROUPS.

THE ACCEPTANCE OF THE SETTLEMENT AGREEMENT COULD MATERIALLY AFFECT THE INTERESTS OF THE CERTIFICATEHOLDERS. CERTIFICATEHOLDERS AND OTHER NOTICE RECIPIENTS SHOULD READ THIS NOTICE AND THE MATERIALS REFERENCED HEREIN CAREFULLY IN CONSULTATION WITH THEIR LEGAL AND FINANCIAL ADVISORS.

THIS NOTICE CONTAINS IMPORTANT INFORMATION FOR THE CERTIFICATEHOLDERS AND OTHER PERSONS POTENTIALLY INTERESTED IN THE RMBS TRUSTS. ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE, AS APPLICABLE, ARE REQUESTED TO EXPEDITE THE RE-TRANSMITTAL OF THIS NOTICE TO CERTIFICATEHOLDERS IN A TIMELY MANNER.

This notice is given to you by the RMBS Trustees under certain applicable Pooling and Servicing Agreements or other similar agreements governing the Accepting Trusts and Loan Groups (the "Governing Agreements"). Capitalized terms used in this notice and not otherwise defined have the meanings assigned to them in the Settlement Agreement.

ACCEPTANCE OF THE SETTLEMENT AGREEMENT

In notices to Certificateholders dated December 19, 2014 and December 31, 2014 (the "Notices"), the RMBS Trustees informed Certificateholders that they had notified Citigroup that, following an evaluation process in which the RMBS Trustees, among other things, considered reports prepared by expert advisors, the RMBS Trustees each accepted the Settlement Agreement with respect to the Accepting Trusts and Loan Groups within such trusts, subject to Final Court Approval through a judicial instruction proceeding as set forth in Section 2.03(c) of the Settlement Agreement. The RMBS Trustees' acceptance of the Settlement Agreement extended the Tolling Period for the Accepting Trusts and Loan Groups as set forth in Section 2.04 of the Settlement Agreement.

The RMBS Trustees have commenced a judicial instruction proceeding pursuant to CPLR § 7701, In the Matter of the Application of U.S. Bank National Association, et al., (Index No. 653902/2014) (the "Article 77 Proceeding"), in the Supreme Court of the State of New York, County of New York (the "Court"). In the Article 77 Proceeding, the RMBS Trustees are seeking a judgment that (i) the RMBS Trustees' acceptance of the Settlement Agreement on behalf of the Accepting Trusts and Loan Groups was a reasonable and good faith exercise of the RMBS Trustees' authority under the applicable Governing Agreements, and (ii) barring Certificateholders from asserting claims against the RMBS Trustees with respect to the RMBS Trustees' evaluation and acceptance of the Settlement Agreement and implementation of the Settlement Agreement in accordance with its terms. Such a judgment, if granted, would constitute, after becoming final and non-appealable (including the expiration of any time to apply for discretionary review), "Final Court Approval" under and as defined in the Settlement Agreement.

a hearing (the "Article 77 Hearing") will be held on May 19, 2015 at 10 a.m. at the Supreme Court of the State of New York, County of New York, 60 Centre Street, New York, New York 10007;

any Certificateholder or other person potentially interested in the Accepting Trusts and Loan Groups may object to or support any aspect of the Settlement Agreement and request to be heard at the Article 77 Hearing by submitting a written notice prior to the Article 77 Hearing in the manner required by the Court;

any objections to, or submissions in favor of, the Settlement Agreement must be filed with the Court and served upon the RMBS Trustees' counsel by April 17, 2015;

any responses to objections or submissions in favor of, or with respect to, the Settlement Agreement, must be filed and served by May 4, 2015;

any Certificateholder who fails to object in the manner required by the Court shall be deemed to have waived the right to object (including any right of appeal) and shall be forever barred from raising such objection before the Court or in any other action or proceeding, unless the Court orders otherwise; and

the Court retains jurisdiction over the RMBS Trustees, the Accepting Trusts and Loan Groups and all Certificateholders (and their successors-in-interests, assigns or transferees) for all matters related to the Settlement Agreement and the Article 77 Proceeding.

Following the Article 77 Hearing, the Court will determine, among other things, whether to grant the requested judgment and will consider other important matters described in the Settlement Agreement. If the Court grants the requested judgment, and such judgment becomes final and non-appealable (including the expiration of any time to apply for discretionary review), and if the other conditions to Final Court Approval and the effectiveness of the Settlement Agreement are satisfied, (i) the Settlement Agreement will become effective and (ii) all Certificateholders will be bound by the Settlement Agreement regardless of whether they appeared in the Article 77 Proceeding or submitted any objection to the Settlement Agreement. On its Effective Date, the Settlement Agreement will affect the rights and interests of all Certificateholders (and their successors-in-interests, assigns or transferees) in the Accepting Trusts and Loan Groups, including by, among other things, releasing claims against Citigroup on behalf of the Accepting Trusts and Loan Groups arising out of or relating to the Rep and Warranty Claims. Please refer to the Settlement Agreement for a complete description of the releases provided for therein.

All papers filed on the public docket for the Article 77 Proceeding have been made available on the RMBS Trustees' Website within the tab entitled "Court Documents – New York State Court Proceeding" (available at http://www.citigrouprmbssettlement.com/NYcourt.php), which will be updated periodically to include any new filings. You should also be able to obtain any documents filed with the Court by visiting the e-Courts tab within the Court's website (available at: http://www.nycourts.gov/).

Certificateholders should NOT direct inquiries to the Court or the Clerk of the Court. If you have any questions, you may call (855) 382-6442 in the United States, or (614) 779-0359 outside the United States, or send an email to [email protected].

OTHER MATTERS

This notice references certain terms of the Settlement Agreement and the Article 77 Proceeding and is not a complete summary or statement of the material terms thereof, of relevant law or of relevant legal procedures. Certificateholders and other potentially interested persons are urged to review carefully the Settlement Agreement and to consider its implications, including the releases of the Rep and Warranty Claims.

Certificateholders and other persons interested in the Accepting Trusts and Loan Groups should not rely on the RMBS Trustees, their counsel, experts or other advisors retained by the RMBS Trustees, as their sole source of information. Certificateholders and other potentially interested persons are urged to consult with their own legal and financial advisors.

Please note that this notice is not intended and should not be construed as investment, accounting, financial, legal, tax or other advice by or on behalf of the RMBS Trustees, or their directors, officers, affiliates, agents, attorneys or employees. Each person or entity receiving this notice should seek the advice of its own advisors in respect of all matters set forth herein.

Please be further advised that each of the RMBS Trustees reserves all of the rights, powers, claims and remedies available to it under the Governing Agreements and applicable law. No delay or forbearance by an RMBS Trustee to exercise any right or remedy accruing upon the occurrence of a default, or otherwise under the terms of the Governing Agreements, other documentation relating thereto or under applicable law, shall impair any such right or remedy or constitute a waiver thereof or an acquiescence therein.

Each of the RMBS Trustees expressly reserves all rights in respect of each applicable Governing Agreement, including without limitation its right to recover in full its fees and costs (including, without limitation, fees and costs incurred or to be incurred by such RMBS Trustee in performing its duties, indemnities owing or to become owing to such RMBS Trustee, compensation for such RMBS Trustee's time spent and reimbursement for fees and costs of counsel and other agents it employs in performing its duties or to pursue remedies) and its right, prior to exercising any rights or powers in connection with any applicable Governing Agreement at the request or direction of any Certificateholder, to receive security or indemnity satisfactory to it against all costs, expenses and liabilities that might be incurred in compliance therewith, and all rights that may be available to it under applicable law or otherwise.

Deutsche Bank National Trust CompanyHSBC Bank USA, National AssociationLaw Debenture Trust Company of New YorkU.S. Bank National Associationeach acting in its capacity as trustee, separate trustee, successor trustee, or other similar capacities of the RMBS Trusts

EXHIBIT AList of Accepting Trusts and Loan GroupsAccepted subject to Final Court Approval through a judicial instruction proceeding as set forth in Section 2.03(c) of the Modified Proposed Settlement Agreement

U.S. Bank National Association, as TrusteeCMLTI 2005-1 Group ICMLTI 2005-1 Group II-1 CMLTI 2005-1 Group II-2CMLTI 2005-1 Group IIICMLTI 2005-10 Group I-1CMLTI 2005-10 Group I-2CMLTI 2005-10 Group I-3CMLTI 2005-10 Group I-4CMLTI 2005-10 Group I-5CMLTI 2005-10 Group IICMLTI 2005-11 Group ICMLTI 2005-11 Group IICMLTI 2005-11 Group IIICMLTI 2005-2 Group I-1CMLTI 2005-2 Group I-2CMLTI 2005-2 Group I-3CMLTI 2005-2 Group I-4CMLTI 2005-2 Group I-5CMLTI 2005-2 Group II-1CMLTI 2005-2 Group II-2CMLTI 2005-3 Group ICMLTI 2005-3 Group II-1CMLTI 2005-3 Group II-2CMLTI 2005-3 Group II-3CMLTI 2005-3 Group II-4CMLTI 2005-3 Group IIICMLTI 2005-4 Total PoolCMLTI 2005-5 Group I-1CMLTI 2005-5 Group I-2CMLTI 2005-5 Group I-3CMLTI 2005-5 Group I-4CMLTI 2005-5 Group I-5CMLTI 2005-5 Group II-1CMLTI 2005-5 Group II-2CMLTI 2005-5 Group II-3CMLTI 2005-5 Group III-1CMLTI 2005-5 Group III-2CMLTI 2005-5 Group III-3CMLTI 2005-5 Group III-4CMLTI 2005-5 Group III-5CMLTI 2005-6 Group ICMLTI 2005-6 Group IICMLTI 2005-6 Group IIICMLTI 2005-7 Group 1-1CMLTI 2005-7 Group 1-2CMLTI 2005-7 Group 1-3CMLTI 2005-7 Group 1-4CMLTI 2005-7 Group II-1CMLTI 2005-7 Group II-2CMLTI 2005-7 Group II-3CMLTI 2005-7 Group II-4CMLTI 2005-7 Group II-5CMLTI 2005-8 Group I-1CMLTI 2005-8 Group I-2CMLTI 2005-8 Group I-3CMLTI 2005-8 Group I-4CMLTI 2005-8 Group IICMLTI 2005-8 Group IIICMLTI 2005-9 Group ICMLTI 2005-9 Group II-1CMLTI 2005-9 Group II-2CMLTI 2005-9 Group II-3CMLTI 2005-HE1 Group ICMLTI 2005-HE1 Group IICMLTI 2005-HE1 Group IIICMLTI 2005-HE3 Group ICMLTI 2005-HE3 Group IICMLTI 2005-HE4 Group ICMLTI 2005-HE4 Group IICMLTI 2005-WF1 Total PoolCMLTI 2005-WF2 Group ICMLTI 2005-WF2 Group IICMLTI 2006-4 Group IICMLTI 2006-4 Group ICMLTI 2006-AMC1 Group ICMLTI 2006-AMC1 Group IICMLTI 2006-AR1 Group ICMLTI 2006-AR1 Group IICMLTI 2006-AR1 Group IIICMLTI 2006-AR2 Group I-1CMLTI 2006-AR2 Group I-2CMLTI 2006-AR2 Group IICMLTI 2006-AR3 Group 1-1CMLTI 2006-AR3 Group 1-2CMLTI 2006-AR3 Group 2-1CMLTI 2006-AR3 Group 2-2CMLTI 2006-AR3 Group 2-3CMLTI 2006-AR3 Group 2-4CMLTI 2006-AR5 Group 1-1CMLTI 2006-AR5 Group 1-2CMLTI 2006-AR5 Group 1-3CMLTI 2006-AR5 Group 1-4CMLTI 2006-AR5 Group 1-5CMLTI 2006-AR5 Group 1-6CMLTI 2006-AR5 Group 1-7CMLTI 2006-AR5 Group 2-1CMLTI 2006-AR5 Group 2-2CMLTI 2006-AR5 Group 2-3CMLTI 2006-AR5 Group 2-4CMLTI 2006-AR5 Group 2-5CMLTI 2006-AR5 Group 2-6CMLTI 2006-AR5 Group 2-7CMLTI 2006-AR6 Group 1CMLTI 2006-AR6 Group 2CMLTI 2006-AR7 Group 1-1CMLTI 2006-AR7 Group 1-2CMLTI 2006-AR7 Group 1-3CMLTI 2006-AR7 Group 1-4CMLTI 2006-AR7 Group 2-1CMLTI 2006-AR7 Group 2-2CMLTI 2006-AR7 Group 2-3CMLTI 2006-AR7 Group 2-4CMLTI 2006-AR9 Group 1CMLTI 2006-AR9 Group 2CMLTI 2006-FX1 Total PoolCMLTI 2006-HE1 Total PoolCMLTI 2006-HE2 Group ICMLTI 2006-HE2 Group IICMLTI 2006-HE3 Group ICMLTI 2006-HE3 Group IICMLTI 2006-NC1 Group ICMLTI 2006-NC1 Group IICMLTI 2006-NC2 Group ICMLTI 2006-NC2 Group IICMLTI 2006-NCB1 Group ICMLTI 2006-NCB1 Group IICMLTI 2006-WF1 Group ICMLTI 2006-WF1 Group IICMLTI 2006-WF2 Group ICMLTI 2006-WF2 Group IICMLTI 2006-WFH1 Total PoolCMLTI 2006-WFH2 Total PoolCMLTI 2006-WFH3 Total PoolCMLTI 2006-WFH4 Total PoolCMLTI 2006-WMC1 Group ICMLTI 2006-WMC1 Group IICMLTI 2007-10 Group 1CMLTI 2007-10 Group 2-1CMLTI 2007-10 Group 2-2CMLTI 2007-10 Group 2-3CMLTI 2007-10 Group 2-4CMLTI 2007-10 Group 2-5CMLTI 2007-10 Group 3-1CMLTI 2007-10 Group 3-2CMLTI 2007-10 Group 3-3CMLTI 2007-2 Group 1CMLTI 2007-2 Group 2CMLTI 2007-6 Group 1-1CMLTI 2007-6 Group 1-2CMLTI 2007-6 Group 1-3CMLTI 2007-6 Group 1-4CMLTI 2007-6 Group 2CMLTI 2007-AHL1 Group ICMLTI 2007-AHL1 Group IICMLTI 2007-AHL2 Group IICMLTI 2007-AHL3 Group ICMLTI 2007-AHL3 Group IICMLTI 2007-AHL3 Group IIICMLTI 2007-AMC1 Group ICMLTI 2007-AMC1 Group IICMLTI 2007-AMC2 Group IICMLTI 2007-AMC2 Group IIICMLTI 2007-AMC3 Group ICMLTI 2007-AMC4 Group ICMLTI 2007-AMC4 Group IICMLTI 2007-AR1 Total PoolCMLTI 2007-AR4 Group 1CMLTI 2007-AR4 Group 2-1CMLTI 2007-AR4 Group 2-2CMLTI 2007-AR4 Group 2-3CMLTI 2007-AR5 Group 1-1CMLTI 2007-AR5 Group 1-2CMLTI 2007-AR5 Group 1-3CMLTI 2007-AR5 Group 2-1CMLTI 2007-AR5 Group 2-2CMLTI 2007-AR7 Group 1CMLTI 2007-AR7 Group 5CMLTI 2007-AR8 Group 1-1CMLTI 2007-AR8 Group 1-2CMLTI 2007-AR8 Group 1-3CMLTI 2007-AR8 Group 2CMLTI 2007-FS1 Group ICMLTI 2007-FS1 Group IICMLTI 2007-OPX1 Total PoolCMLTI 2007-WFH1 Total PoolCMLTI 2007-WFH2 Total PoolCMLTI 2007-WFH3 Total PoolCMLTI 2007-WFH4 Group ICMLTI 2007-WFH4 Group IICMLTI 2008-2 Group ICMLTI 2008-2 Group II

Deutsche Bank National Trust Company, as Trustee

CMLTI 2005-OPT1 Total PoolCMLTI 2005-OPT3 Total Pool

HSBC Bank USA, National Association as Trustee

CMLTI 2005-HE2 Total PoolCMLTI 2005-SHL1 Total PoolCMLTI 2007-SHL1 Total Pool

Law Debenture Trust Company of New York, as Separate Trustee

CMLTI 2005-OPT4 Group ICMLTI 2005-OPT4 Group IICMLTI 2006-SHL1 Total Pool